Mortgage Rates Recover Most Of Yesterday's Losses

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Posted To: Mortgage Rate Watch

Mortgage rates fell back in line with Wednesday's levels in most cases today, though lenders' offerings varied more than usual. Markets continue to surprise, but this time positively! We saw a good amount of improvement in underlying markets overnight and added to those gains after the morning's economic reports. This is a bit of a break from the norm as economic data hasn't done much to move rates recently. Furthermore, the movement was in the opposite direction as that suggested by the stronger-than-expected GDP data and generally "as-expected" Consumer Sentiment data. Typically, when economic data suggests that growth is better than expected, interest rates and stock prices tend to move higher together, all other things being equal. Stock prices did, in fact, rise this morning, but interest...(read more)

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